The next update is coming soon. It features the possibility to make long recordings and save them to file. You will be able to copy and paste long clips too, which will be saved to file. Finally, iTunes file sharing will be supported, though I always reccomend to use the much more handier iPhone Explorer.
You can have a free copy of Ricepad if you kindly test this release. In order to become a beta tester you have to send me an email to [email protected] telling me the UDID of your device, the model (e.g. iPhone 4) and the OS version (e.g. iOS 4.2).